Cameron and Tyler Winklevoss continue to build something rare and special in the cryptocurrency space: credibility and street cred in tandem. The twins continue to blaze a trail that is light years ahead of their exchange competitors that it is fascinating to watch.
Rather than building an exchange for the purposes of routing trades and taking a ‘rake’ on those trades, the twins are building a crypto brand akin to a cross between the NYSE and Goldman Sachs. The largest brands on Wall Street trust these guys.
Several top Wall Street executives have left traditional finance for the volatile world of cryptocurrencies, and it seems like that trend is going to continue. The latest to do so is Former NYSE Chief Information Officer Robert Cornish, who has been picked to be Gemini’s first Chief Technology Officer, leading the company’s tech initiatives.
During his time at the New York Stock Exchange, Cornish led the NYSE technology team and oversaw the overhaul of the Big Board’s outdated electronic trading platform. He was also named in Institutional Investor‘s “Trading Technology Top 40” in 2016. Cornish is expected to begin his role at Gemini later this month.
Tyler Winklevoss said in the statement: “Rob is globally recognized for his abilities in leading high-performing engineering teams, his expertise in exchange and matching-engine architecture, and running high-throughput platforms that are both secure and resilient.”
Cornish joins others such as former Goldman Sachs employees Richard Kim and Michael Bucella in leaving Wall Street to join cryptocurrency focused start-ups. Former Goldman Sachs Vice President Matt Goetz has even started his own digital asset investment firm called BlockTower Capital.
Gemini has consistently taken steps to ensure they are compliant with state and federal legislation, touting it as a main feature of the platform. They are also one of the few exchanges that have been given New York State’s BitLicense, allowing residents of New York to use the exchange.
Earlier this year, Gemini received NY State approval to trade Bitcoin Cash, Litecoin, and Zcash. Gemini has already released Zcash trading on their platform, offering ZEC/BTC, ZEC/ETH, and ZEC/USD pairs. The Winklevoss twins have announced their intent to add BCH and LTC to the exchange in the coming months.
We’ve called Cameron and Tyler the ‘smartest guys in crypto’ before and we think it is worth reiterating here. They are waaaaay ahead of the curve and have lapped their competitors. What they choose to do with that advantage is worth watching.